• Used Car loan interest rates offered by different banks this Diwali

    Used Car Loans in India

    Loans are offered by banks and financial institutions to help customers buy pre-owned vehicles. Used car loans are available to purchase cars, SUVs, MUVs and jeeps. Banks have different terms and conditions, eligibility criteria and interest rates offered on their loans. Comparing loans will help you determine the best pre-owned vehicle loan. Banks will determine if you qualify for a loan based on the age and model of the car you wish to buy, the condition of the vehicle, the market value, your income, age and work experience.

    Offers on Used Car Loans this Diwali – October 2016

    Loan Provider Loan Quantum Interest Rate Type of Interest Rate
    TVS Credit Service Up to 85% of valuation Up to 15% Floating
    HDFC Bank 80% of market value 14.50% to 17.50% Fixed
    Andhra Bank 60% of the on-road price 10.25% Fixed
    Au Financiers Rs.50,000 to Rs.15 lakhs 17.00% to 23.00% Floating
    Federal Bank 75% of depreciated value 11.25% to 12.50% Fixed
    Bank of Baroda 80% of on-road price 10.50% Floating
    Central Bank of India 75% 10.60% Floating
    Bank of Maharashtra 50% 10.35% Floating
    Indian Bank 60% of market value 12.90% Floating
    Bank of India 70% of market value 10.95% Floating
    State Bank of India 85% 13.05% Floating
    ICICI Bank 80% of on-road price 15.50% Fixed
    Oriental Bank of Commerce 70% of market value 12.55% Floating
    Tamilnad Mercantile Bank 70% of market value 11.75% to 12.00% Floating
    Karnataka Bank 60% 14.45% Floating
    Punjab National Bank 70% of market value 11.20% to 11.70% Floating
    Kotak Bank 85% 17.00% to 20.00% Fixed
    Union Bank of India 50% 12.90% Floating

    Top Pre-Owned Car Loan Providers

    • HDFC Bank
    • State Bank of India
    • TVS Credit Services
    • ICICI Bank
    • Au Financiers
    • Indian Bank
    • Bank of Baroda
    • Bank of India
    • IndusInd Bank
    • Kotak Mahindra

    Get a pre-owned vehicle this Diwali with a suitable used car loan. Find the best deal for you on BankBazaar with custom quotes from top providers in the country. Use the EMI calculator to find out whether the loan is affordable and convenient.

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